Accuray (NASDAQ:ARAY) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Accuray (NASDAQ:ARAY) posted its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05), Yahoo Finance reports. The firm had revenue of $101.13 million for the quarter, compared to analyst estimates of $114.60 million. Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. During the same period in the previous year, the business posted $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Trading Down 29.0 %

Shares of NASDAQ ARAY traded down $0.63 during midday trading on Thursday, hitting $1.54. The stock had a trading volume of 5,292,999 shares, compared to its average volume of 506,936. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84. Accuray has a fifty-two week low of $1.51 and a fifty-two week high of $4.30. The firm has a market cap of $152.72 million, a P/E ratio of -10.40 and a beta of 1.48. The company’s 50-day simple moving average is $2.45 and its 200 day simple moving average is $2.63.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Roth Capital reiterated a “buy” rating on shares of Accuray in a research report on Tuesday, February 13th. Roth Mkm initiated coverage on Accuray in a report on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price target for the company. Finally, TheStreet lowered shares of Accuray from a “c-” rating to a “d+” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.25.

About Accuray

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.